Monty Co. uses the composite method to depreciate its equipment. The following totals are for all of the equipment in the group: Initial Cost Residual Value Depreciable Cost $1,005,000 $121,000 $884,000 Depreciation Per Year $90,450 (a) What is the composite rate of depreciation? (Round answer to O decimal place, e.g. 52%) Composite rate of depreciation Save for Later Attempts: 0 of 1 used Submit Answer